Legal & General Group Plc Buys New Holdings in Texas Capital Bancshares, Inc. $TCBI

Legal & General Group Plc purchased a new position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 58,382 shares of the bank’s stock, valued at approximately $6,029,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its holdings in shares of Texas Capital Bancshares by 57,777.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 52,090 shares of the bank’s stock valued at $4,716,000 after acquiring an additional 52,000 shares in the last quarter. BlackRock Inc. bought a new position in shares of Texas Capital Bancshares in the 2nd quarter worth $578,148,000. Quantinno Capital Management LP lifted its holdings in shares of Texas Capital Bancshares by 288.1% in the 1st quarter. Quantinno Capital Management LP now owns 34,729 shares of the bank’s stock worth $3,295,000 after purchasing an additional 25,781 shares in the last quarter. Bank of America Corp DE grew its position in Texas Capital Bancshares by 13.6% in the 1st quarter. Bank of America Corp DE now owns 378,515 shares of the bank’s stock valued at $35,914,000 after purchasing an additional 45,220 shares during the period. Finally, William Blair Investment Management LLC grew its position in Texas Capital Bancshares by 17.2% in the 4th quarter. William Blair Investment Management LLC now owns 468,000 shares of the bank’s stock valued at $42,373,000 after purchasing an additional 68,539 shares during the period. Institutional investors own 96.88% of the company’s stock.

Insider Activity

In related news, CEO Rob C. Holmes sold 49,500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $101.22, for a total transaction of $5,010,390.00. Following the completion of the transaction, the chief executive officer owned 167,635 shares in the company, valued at approximately $16,968,014.70. This represents a 22.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ellen Detrich sold 2,045 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $100.03, for a total transaction of $204,561.35. Following the transaction, the insider owned 7,529 shares of the company’s stock, valued at approximately $753,125.87. The trade was a 21.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 104,145 shares of company stock valued at $10,570,584 in the last ninety days. 1.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen lowered their price objective on shares of Texas Capital Bancshares from $109.00 to $106.00 and set a “hold” rating on the stock in a report on Monday, July 27th. Barclays upgraded shares of Texas Capital Bancshares from an “underweight” rating to an “equal weight” rating and set a $100.00 price objective for the company in a report on Monday, August 3rd. Fundamental Research set a $110.00 target price on shares of Texas Capital Bancshares in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Texas Capital Bancshares from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Texas Capital Bancshares currently has a consensus rating of “Hold” and an average price target of $105.83.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI opened at $96.68 on Thursday. The company has a market capitalization of $4.20 billion, a PE ratio of 12.57, a PEG ratio of 1.16 and a beta of 0.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $100.88 and its 200-day moving average price is $99.38. Texas Capital Bancshares, Inc. has a twelve month low of $75.41 and a twelve month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.01. The company had revenue of $335.50 million during the quarter, compared to the consensus estimate of $333.37 million. Texas Capital Bancshares had a return on equity of 10.86% and a net margin of 17.90%.Texas Capital Bancshares’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $1.63 earnings per share. On average, equities analysts anticipate that Texas Capital Bancshares, Inc. will post 7.39 EPS for the current year.

Texas Capital Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Texas Capital Bancshares’s dividend payout ratio is 10.40%.

Texas Capital Bancshares Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.